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Economy of Latvia. Statistics, Data and Indicators

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Latvia
69A- Credit rank #39
N/A Quality of life #
44 Corruption rank#41
19 Ease of doing business#19
Latvia


Latvia Major Economic Indicators

Indicator Data Period
GDP Value 34.12 USD Billion 2019
GDP Annual Growth Rate -2.6 % 3Q/20
GDP Growth Rate 7.1 % 3Q/20
GDP per capita 16698 USD 2019
Inflation Rate YoY -0.5 % Dec/20
Interest Rate 0 % Dec/20
Unemployment Rate 8.4 % 3Q/20
Wages 832 EUR/Month | 1004.673 USD/Month Sep/20
Balance of Trade -76.1 EUR Million | -0.092 B USD Nov/20
Current Account 97 EUR Million | 0.117 B USD Nov/20
Foreign Exchange Reserves 4311 USD Million | 4.311 B USD Dec/20
Government Debt 13153 EUR Million | 15.883 B USD 3Q/20


GDP
vvp
34.12
USD Billion
#99 from 174 countries
GDP per capita
vvp
16698
USD
#47 from 169 countries


GDP Indicators

Indicator Data Period
GDP Value 34.12 USD Billion 2019
GDP Annual Growth Rate -2.6 % 3Q/20
GDP Growth Rate 7.1 % 3Q/20
GDP per capita 16698 USD 2019
Gross National Product 7635 EUR Million | 9.22 USD Billion 3Q/20
GDP Constant Prices 7029631 EUR Thousand | 8.489 B USD 3Q/20
GDP per capita PPP 30830 USD 2019
GDP From Agriculture  315956 EUR Thousand | 0.382 B USD 3Q/20
GDP From Construction  487824 EUR Thousand | 0.589 B USD 3Q/20
GDP From Manufacturing  796540 EUR Thousand | 0.962 B USD 3Q/20
GDP From Mining  143854 EUR Thousand | 0.174 B USD 3Q/20
GDP From Public Administration  445992 EUR Thousand | 0.539 B USD 3Q/20
GDP From Services  1044348 EUR Thousand | 1.261 B USD 3Q/20
GDP From Transport  516018 EUR Thousand | 0.623 B USD 3Q/20


Budget Indicators

Indicator Data Period
Government Debt to GDP 36.9 % 2019
Government Budget Value -107323232 EUR | -0.13 USD Billion Nov/20
Government Spending 1157723 EUR Thousand | 1.398 USD Billion 3Q/20
Government Debt 13153 EUR Million | 15.883 USD Billion 3Q/20
Government Revenues 968119 EUR Thousand | 1.169 USD Billion Nov/20
Fiscal Expenditure  1099522 EUR Thousand | 1.328 B USD Nov/20
Government Budget to GDP -0.2 % 2019
Government Spending to GDP 38.9 % 2019
Military Expenditure 629 USD Million | 0.629 B USD 2018


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 108 index points Dec/20
Export Prices 104 index points Oct/20
Food Inflation 1.6 % Nov/20
Gasoline Prices 1.41 USD/Liter Dec/20
GDP Deflator 1.11 % 3Q/20
Import Prices 93 index points Oct/20
Inflation Rate YoY -0.5 % Dec/20
Producer Prices 105 index points Nov/20
Inflation Rate Mom 0 % Dec/20
Core Consumer Prices 108 Index Points Nov/20
Core Inflation Rate 0.6 % Nov/20
CPI Housing Utilities 104 Index Points Nov/20
CPI Transportation 99.5 Index Points Nov/20
Harmonised Consumer Prices 108 Index Points Nov/20
Producer Prices Change  -0.9 % Nov/20


Trade Indicators

Indicator Data Period
Current Account to GDP -0.5 % 2019
Balance of Trade -76.1 EUR Million | -0.092 USD Billion Nov/20
Capital Flows 633000 EUR Thousand | 0.764 USD Billion 3Q/20
Current Account 97 EUR Million | 0.117 USD Billion Nov/20
Exports 1251 EUR Million | 1.511 USD Billion Nov/20
External Debt 36983 EUR Million | 44.658 USD Billion 3Q/20
Foreign Exchange Reserves 4311 USD Million | 4.311 USD Billion Dec/20
Imports 1328 EUR Million | 1.604 USD Billion Nov/20


Money Indicators

Indicator Data Period
Bank Lending Rate 4.36 % May/20
Gold Reserves 6.66 Tonnes 3Q/20
Interbank Rate 0.17 % Jan/21
Interest Rate 0 % Dec/20
Loans to Private Sector 4444 EUR Million | 5.366 USD Billion Nov/20
Money Supply M0 10363 EUR Million | 12.514 USD Billion Nov/20
Money Supply M1 15240 EUR Million | 18.403 USD Billion Nov/20
Money Supply M2 17180 EUR Million | 20.746 USD Billion Nov/20
Central Bank Balance Sheet 22756 EUR Million | 27.479 B USD Nov/20
Foreign Direct Investment 91 EUR Million | 0.11 B USD Sep/20


Labor Indicators

Indicator Data Period
Minimum Wages 430 EUR/Month | 519.242 USD/Month 3Q/20
Retirement Age Men 63.75 2020
Retirement Age Women 63.75 2020
Unemployment Rate 8.4 % 3Q/20
Wages 832 EUR/Month | 1004.673 USD/Month Sep/20
Youth Unemployment Rate 14.8 % Nov/20
Employed Persons 893 Thousand Person | 0.893 Million Person 3Q/20
Employment Change  -4.4 % 2Q/20
Employment Rate  64.1 % 2Q/20
Full Time Employment 787 Thousand Person 3Q/20
Job Vacancies 20540 | 20.54 K 3Q/20
Labor Force Participation Rate 70.1 % 3Q/20
Long Term Unemployment Rate 2.2 % 3Q/20
Part Time Employment 62.7 Thousand Persons 3Q/20
Unemployed Persons 67518 Persons | 0.068 Million Persons Nov/20


Taxes



Production Indicators

Indicator Data Period
Electricity Production 334 GWh Oct/20
Industrial Production 2.7 % Nov/20
Mining Production 20.5 % Nov/20
Industrial Production (MoM) 1.5 % Nov/20


Business Indicators

Indicator Data Period
Business Confidence -9.2 index points Dec/20
Corruption Index 56 index points 2019
Corruption Rank 44 place 2019
Ease of Doing Business 19 place 2019
Manufacturing Production 4.3 % Nov/20
Competitiveness Index 66.98 Index Points 2019
Competitiveness Rank 41 2019
Economic Optimism Index 90.4 Index Points Nov/20


Consumer Indicators

Indicator Data Period
Consumer Confidence -25.8 index points Dec/20
Retail Sales MoM -1.9 % Nov/20
Retail Sales YoY 1.4 % Nov/20
Consumer Credit 509 EUR Million | 0.56 USD Billion Dec/18
Consumer Spending 3970603 EUR Thousand | 4.795 USD Billion 3Q/20
Households Debt To Income 32.19 % 2019


Housing Market

Indicator Data Period
Construction Output 1.1 % 4Q/19


Government Debt
dept_icon
15.883
USD Billion
#49 from 65 countries
Balance of Trade
balance_icon
-0.092
USD Billion
#90 from 173 countries


Gold Reserves
gold_reserve_icon
6.66
Tonnes
#79 from 114 countries
Foreign Exchange Reserves
gold_reserve_icon
4.311
USD Billion
#87 from 114 countries


Government Budget Value
balance_icon
-0.13
USD Billion
#113 from 113 countries
Inflation Rate
inflation_icon
-0.5
%
#78 from 174 countries


Interest Rate
discount_rate_icon
0
%
#147 from 159 countries
Bank Lending Rate
credit_rate_icon
4.36%
#30 from 55 countries


Unemployment Rate
unemployment_icon
8.4
%
#79 from 171 countries
Wages
salary_icon
1004.673
USD/Month
#46 from 82 countries


Retirement Age
man_icon
woman_icon
63.75
63.75
men
women
Taxes
company_icon
private_icon
20%
31.4%
company profits
income of individuals